Well, this is really shocking. I have 3 colleagues who are in their middle age of 40-50 years old who do not have their own private H&S (Hospitalisation and Surgical) insurance plans. The reason they explained to me is that the Company is already offering Group H&S plans so if they have their own plans, then it will be a waste of money. I guess the problem is that as one goes past 40 years old, probability of numerous medical problems will suddenly shoot up. Consequently, if one tries to get H&S after the retirement age of 65 years old, most likely there will be various exclusions for different medical conditions. Insurability is another problem....I got another friend in his 30s who got a minor stroke and unable to get any insurer to provide H&S coverage. So, do see your financial planner to cover H&S risk while one is still young and free of chronic or major illnesses.
Sometimes, I wish life has a rewind button....but unfortunately, that only happens in drama series.
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